Most of that is Dolan stuff - Nama have changed the way they release the enforcement info. They don't appear to be publishing a quarterly list of new enforcements, rather they are just adding new properties to the searchable database which means you have to do an 'all properties NI' search and then use the existing lists in a process of elimination to work out what is new.

The big scramble for a share of tens of millions being doled out by ‘bad bank’ Nama is continuing after it put up more than £100m to fund projects from Northern Ireland firms.

Finance Minister Sammy Wilson has welcomed the bonanza and said 60% of the funding has already been used to develop properties in Britain and the remainder spent on assets in Northern Ireland and the Republic of Ireland.

There was no detail from Nama or the Department for Finance and Personnel about specific funding decisions made by the so-called bad bank, which has absorbed loans of £3.35bn secured on Northern Ireland assets.

Dozens of property companies across Northern Ireland have a relationship with Nama, which was set up to absorb toxic loans on property made by banks based in the Republic and now functions as a bank.

In some cases, where companies have gone into administration, Nama will effectively repossess their properties — but in other cases, developers can have business plans accepted by the agency and can secure funding for projects.

Speaking after a meeting with Nama, Mr Wilson said yesterday that the agency’s funding was a “much needed boost” for construction and property at a time when lending was limited.

“While £60m of this relates to projects that are located in Great Britain, they are in the main, being managed from Northern Ireland, helping to support further employment and business activity through these difficult times.”

He said Nama had told him that funding had been given to residential and commercial projects, and that there would be more funding in the future that would “benefit” Northern Ireland.

As most loans taken up by Nama were on commercial property, much of the investment had been made in that category, such as offices and shops.

Mr Wilson said the £100m investment was evidence that assets would be “carefully managed” by Nama instead of a so-called fire sale of assets.

Nama chairman Frank Daly has publicly detailed shopping centres and other developments in the Republic which have benefited from Nama funding, such as Dublin’s Charlestown shopping centre, which had received €13m.

But James Gibbons, principal of property advice firm GDP Partnership, said: “Given the fact that the debt book for Northern Ireland is in the region of £3.35bn, the funding which they have allocated is a mere drop in the ocean three years into the lifetime of the project.

A debtor, who wanted to remain anonymous, welcomed the news as a “step in the right direction”.

The big scramble for a share of tens of millions being doled out by ‘bad bank’ Nama is continuing after it put up more than £100m to fund projects from Northern Ireland firms.

Finance Minister Sammy Wilson has welcomed the bonanza and said 60% of the funding has already been used to develop properties in Britain and the remainder spent on assets in Northern Ireland and the Republic of Ireland.

In Britain (where £60 million of the NAMA "investment" has already gone), looks like NI firms will need all the help they can get

A large chunk of that has probably gone to McAleer and Rushe who agreed five year funding with Nama and have several active projects

A big question for me is whether Nama can be persuaded to fund a speculative office development in Belfast. There is absolutely no pipeline for that kind of development at the moment and Grade A space is getting very tight (particularity once Pinsent Mason sign for the Soloist).

The £90m represents 1% of the sales reached by the agency. Overall, Northern Ireland properties make up 4% of its €31.8bn (£25.8bn) portfolio. Nearly two-thirds of the sales in the province have been achieved within the last year, as one year ago Nama said sales of Northern Ireland assets had fetched €43m (£34.9m).

Just under half of its Northern Ireland property is in Belfast and around 80% in Antrim and Down - which includes the properties in the city.

Ronnie Hanna, Nama's head of asset recovery and a member of its Northern Ireland Advisory Committee, said it was keeping its promise of being a "responsible and constructive" operator in the property market.

"Nama has said it will not engage in so-called 'fire sales' in Northern Ireland or indeed any other jurisdiction," said Mr Hanna.

Mr Hanna stated: "Nama will continue to play its part in bringing stability to the Northern Ireland property market and our track record shows our actions have been matching our words".

And its not just Nama debtors who can apply to borrow money from the agency. Under its vendor finance initiative, investors who want to buy Nama property can also apply to borrow money from the agency, provided they can put up 25%-30% equity. Those loans are generally set over a period of around seven years with interest rates of 2.5% over the London Interbank Lending Rate (Libor).

Just under half of its Northern Ireland property is in Belfast and around 80% in Antrim and Down - which includes the properties in the city. One quarter is land, 17% retail, 18% offices, 22% investment property, 10% residential, 5% development and 3% hotels.

16th April 2013 - The National Asset Management Agency (NAMA) has today announced plans to provide funding of stg£9 million to build a new 95-unit housing development in Millmount, Dundonald, close to Belfast.

The Agency will provide funding to develop the site through an agreement between the court-appointed administrator and a Northern Ireland-headquartered construction company.

An estimated 100 jobs will be generated during the construction phase of the project, which is expected to last approximately 18 months. When completed, the first phase will consist of 95 mainly three-bedroom and four-bedroom houses.

The site has outline planning for 510 residential properties, which may be delivered in subsequent phases subject to market conditions and the success of the initial phase.

Speaking at today's announcement, NAMA Chairman Frank Daly said:
"This is a real statement of intent about our Northern Ireland loan portfolio. We are committed to supporting projects that can deliver a commercial return and I hope that there will be more projects like this in Northern Ireland.

We are funding this development because it will deliver quality homes for people looking to live and work in Belfast. It will turn an unused site into a development that will benefit the Agency as well as homebuyers, the city of Belfast and the people who work on building it".

The site will be developed by Baker Tilly Ryan Glennon, the court-appointed administrator to the site, and a subsidiary of the Northern Ireland-headquartered Lagan Group.

Speaking about the decision to fund the development, Mr Daly said:
"In deciding how to get the best possible return from this site, we were faced with a choice. That was between selling an undeveloped site to the highest bidder and funding the development to create a more valuable asset.
We are confident that the choice we have made will deliver a better commercial return. This is consistent with our policy - in Northern Ireland and elsewhere - of managing our assets from a long-term perspective and taking account of local market conditions.
We would welcome proposals from our debtors and receivers/administrators in relation to other viable projects in Northern Ireland and continue to encourage parties interested in availing of vendor financing in Northern Ireland to approach us".

80/20 Deferred Payment Initiative
The NAMA Chairman has also announced today that the Agency is in discussion with a Northern Ireland mortgage provider and is examining the regulatory feasibility of extending its 80/20 Deferred Payment Initiative to houses controlled by its debtors and receivers/administrators in Northern Ireland.

The 80/20 Initiative was launched on an initial pilot basis in the Republic of Ireland last May and subsequently extended. The initiative aims to provide house buyers with a level of protection against reductions in housing values during the first five years after purchase. Subject to lender agreement and regulatory approval, it is anticipated that Millmount will be suitable for the initiative.

Notes to Editors:
1. The court-appointed administrator to this site, Baker Tilly Ryan Glennon, selected its development partner after a competitive tender process that began late last year.
The administrator received expressions of interest from more than 20 interested parties.
Independent professional advisors were engaged by the administrator in the evaluation of the tenders received and following assessment across a range of areas, including financial projections, approach to planning, financial strength of the tenderer and track record in similar developments, a Lagan Homes company was selected as the preferred bidder.

2. In May 2012, NAMA announced the availability of vendor financing for purchasers of commercial property related to NAMA's loans and has said that it would welcome proposals from interested parties in Northern Ireland. Details on NAMA's vendor finance packages in Northern Ireland can be accessed at <http://www.nama.ie/publications/>.

3. NAMA has also announced plans to advance funding for projects that are shown to be capable of demonstrating a return on investment, including projects located in Northern Ireland.

As Nama announced plans to inject £9m in the development of a residential site in east Belfast, another major asset in its portfolio came on to the market.

The Linen Green Designer Village and shopping outlet in Dungannon is on sale through agents CBRE. The development, which has shops, cafes and the offices of business advisers PricewaterhouseCoopers, has a price tag of £5m.

CBRE is also in charge of the sale of the listed Scottish Mutual office and retail building in Belfast city centre. Both were part of Jermon, the group of property companies set up by Co Tyrone pharmacist Peter Dolan.

The now-discharged bankrupt was one of the biggest property developers in Northern Ireland until the property crash of 2008.

Nama £9m to build 100 green field homes

ALMOST 100 houses will be built on green fields in east Belfast after a £9m cash injection from the Republic's bad bank, Nama.

The bank, set up to cleanse the Irish banking system of toxic property loans, said it may give more funding to the Millmount development in Dundonald if the first phase of 95 houses is deemed a success.

Northern Ireland properties make up 4% of Nama's £25.8bn portfolio.

Four and five-bedroomed houses will be built by Lagan Homes, appointed by administrator Baker Tilly Ryan Glennon after a tendering process which attracted 20 interested parties. Nama said the build was expected to generate around 100 jobs over 18 months – and later phases may include another 415 properties.

Chairman Frank Daly said: "We are committed to supporting projects that can deliver a commercial return and I hope that there will be more projects like this in Northern Ireland."

He said the agency had to choose between selling it in an undeveloped state or funding its development to create "a more valuable asset". Nama also said it is looking at introducing its 'deferred equity' mortgage scheme in Northern Ireland, and said it may be available for house purchases at Millmount, a site which had been mothballed since 2009.

The scheme aims to insulate house buyers against falls in house values during the first five years after purchase. Funding has been provided to the administrator, which in turn has entered into an agreement with Lagan Homes.

Finance Minister Sammy Wilson welcomed the commitment by Nama: "I am pleased, first of all because Dundonald is somewhere where there is clearly demand for houses. Where there is a market for houses, and where there's a land bank available, I have been stressing to Nama not to hold on to the land because it holds back development and prevents jobs."

The 96-acre site was formerly owned by Taggart Holdings, which collapsed in 2008. It funded the purchase with loans from Anglo Irish Bank.

Lagan Homes was set to build 150 homes on the site in 2009 until Nama became involved. However, Nama would not say anything about how its relationship with Lagan Homes – which said the work is expected to begin immediately – had changed since.

More details have emerged about the properties Nama has repossessed from the Coleraine-based Kennedy Group.

Earlier this month the Irish state 'bad bank' took control of the group's Ramada Hotel in Coleraine. At that time Nama also appointed receivers to properties held by some other Kennedy firms. They include a business park, 30 acres of land, development sites and offices. Seven properties held by Kennedy Holdings Coleraine are in receivership.

They are: 30 acres of land at Ardvarness townland, three units at Coleraine Business Centre on the Ballycastle Road and three units at the Sandel Village Centre where the groups has its headquarters.

The most valuable property in receivership is a business park and other land on the Ballymena Road in Antrim, near the Junction One centre. These assets were held by ACI Developments.

Two development sites in Coleraine are also in receivership - they were held by Kennedy Investments and Kennedy Group Properties.

The Kennedy Investments property is two adjoining houses on the Portstewart Road. The site has planning permission to build apartments. The Kennedy Group Properties asset is a large house on the up-market Mountsandel Road.

A new apartment block on the site was refused planning permission in 2012. When the company which operates the Ramada Hotel, North Coast Hotels, was placed into administration two related companies also entered administration.

They are Culzean Properties (No. 3) and its parent Culzean Holdings. Accounts show that Culzean Holdings owes £11m - which is at least £4m than its assets are worth. Other Kennedy Group companies, which are funded by Ulster Bank, are still solvent.

More properties which were owned by the Coleraine-based Kennedy Group have been placed into receivership by Nama. The seven properties were owned by three different companies and are located in Antrim, Portstewart and Londonderry.

Earlier this month the Irish state 'bad bank' took control of the group's Ramada Hotel in Coleraine. At that time Nama also appointed receivers to properties held by some other Kennedy firms.

The latest receiverships concern ACI Developments, Waterside Crescent and Kennedy Investments. The ACI Developments assets are four parcels of land close to the Junction One centre in Antrim.

That company's main asset, a business park on the Ballymena Road, had already been placed in receivership by Nama. The Waterside Crescent assets taken by Nama are two retail warehouses on Strand Road in Derry. The Kennedy Investments properties are adjoining sites on The Crescent in Portstewart which have planning permission to build 24 apartments.

A deconsecrated Methodist church in south Belfast has been repossessed by the Irish government's National Asset Management Agency (NAMA).

The church on University Road was owned by the Ballygowan-based Soll Developments. It has been placed into receivership with a number of other buildings and sites. The listed building is on the Ulster Architectural Heritage Society's (UAHS) at risk register.

The UAHS describes it as "an important piece of townscape and an imposing building in its own right".

There were plans to redevelop the church as part of an apartments scheme that would have involved inserting mezzanine floors.

The receiver, Stephen Cave from PwC, said he was working with other organisations to secure the properties and ensure that, where appropriate, all listed building regulations were adhered to. "Over the next few weeks we will work closely with IBRC and NAMA to decide how best to deal with the land and property," he said.

The other properties in receivership are at Finaghy Road South in Belfast, Clanbrassil Road, Cultra, Demesne Road, Seaforde, Carrogs Road, Burren, Woodside Road, Newbuildings and in Bryansford village. Soll Developments and a sister firm, Soll Lands, last filed accounts for 2008 and at that time owed their creditors more than £16m.

Their bank loans were made by the former Anglo Irish Bank, before being moved into Nama.